There’s probably a lot of hysteria and over-reaction. However, if it makes you feel better (like in my case), just stay within the insured limits.
And if you plan on selling some of your money funds to buy CDs through schwab, just be aware that when you buy a CD through schwab, the CD is only actually purchased at the listed settlement date, and you cash will be held as part of the cash sweep feature of your brokerage account until the settlement date.
